SpaceX Roadshow Begins After Starship Launch
Speakers
Ed Ludlow
— Co-Host, Bloomberg Technology
Summary
The video covers SpaceX's IPO roadshow and the successful Starship launch, with space stocks surging. It also discusses Micron's low valuation and a UBS upgrade, leading to a significant stock rally. The broader market reaction to these events is analyzed.
- SpaceX begins IPO roadshow after filing S1 for a large IPO.
- SpaceX Starship test flight successfully deploys mock satellites and returns.
- Space stocks rise on sector validation from SpaceX's IPO progress.
- Micron shares surge over 13.5% following a UBS price target upgrade.
- UBS argues Micron's multiple should expand due to strong memory demand.
- Discussion of SpaceX's $28.5 trillion TAM, with AI software as a major component.
- Ed Ludlow notes the ripple effect of SpaceX's financial events on space startups.
- Micron's low forward P/E (under 8x) is highlighted as a valuation opportunity.
Trade Ideas
Micron undervalued, multiple expansion ahead
Micron is undervalued relative to its total addressable market and strong memory demand. A UBS note raised the price target, arguing the market will eventually assign a more normal multiple as memory demand remains high and supply cannot keep up. This multiple expansion should drive the stock higher.
Up Next
This Bloomberg Markets video, published May 26, 2026, features Ed Ludlow discussing MU. 1 trade idea extracted by AI with direction and confidence scoring.